Bloomberg News

Rosneft to Buy Sberbank’s 35% of Taas Oil Unit for $444 Million

February 02, 2012

Feb. 2 (Bloomberg) -- OAO Rosneft, Russia’s largest oil producer, plans to buy OAO Sberbank’s 35 percent stake in the Taas Yuriakh oil project for $444 million.

Rosneft Chief Executive Officer Eduard Khudainatov and Sberbank CEO German Gref signed a preliminary agreement on the eastern Siberian oil project at ceremony today in Moscow.

Sberbank, Russia’s biggest lender, acquired stakes in Taas Yuriakh as well as the Dulisma oil field from Urals Energy Plc in a debt settlement in 2009.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net


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